Waitomo Caves tourism operator given $4 million as government ministers pinpoint 'strategic tourism assets' to be protected by taxpayers; Funding allocated to regional tourism organisations too

Sounds like an audit is required to me, how can that place not be a cash cow?

The cave was supplied free of charge so all the company has to do is tick a few H&S boxes and walk punters down the entrance while frantically pulling the cash register arm.

"Govt should be taking a stake in these companies or issuing them a loan, not forking over our cash."

Government should have negotiated a fixed income security (preferred share or bond) and then had warrants attached (with an exercise price at the then share price).

That would avoid moral hazard, and would get management to maintain sufficient liquidity or pay the price for insufficient liquidity in future. That way government supported the business, and they got compensated accordingly. The government could then sell the shares in the future in the market when conditions are improved. And the taxpayer would be a net beneficiary.

Any financial support for listed companies by government should be in a similar manner.

That sort of deal may have made management prefer to do a rights issue.

Kiwicave, why build houses?

well we do have to import all the workers from offshore to work in a lot of our tourism industry so they must be otherwise why would we let them in sarc

I don't know. Like Chernobyl in 1986 it does glow in the dark.

PS, accidentily reported you, my bad.

It's also too far from Napier, Wellington, Christchurch, London, Tokyo etc.

Do you actually think high speed rail is viable with our very low population and very low population densities?

The very same. Notice THL hasn't put out a rights issue or anything, why should the shareholders stump up any cash when Johnny taxpayer will foot the bill? I'm absolutely disgusted by this lolly scramble with my tax dollars.

Immediately shows that "Applicants need to have exhausted all other forms of support (government and private) before being eligible for a cash payment." is a bald-faced lie.

There's the rub. If the businesses fail, then a new owner will buy the assets and take on the risk. As harsh as it sounds, we should let businesses fail, particularly ones that are based on a natural asset which won't be going anywhere. Before anyone says "but what about the jobs!" remember if a business is sold it will hire new staff. Propping it up only prevents the staff from finding employment in a business that is viable.
Ugh macro issues bite - they make pragmatists sound like baby killers

Kelvin is, was, has always been totally incompetent. How on earth he became deputy leader is unbeknownst to me

the same company that quoted me over $130 a day when i inquired about using them to enable my staff to stay on site during the lockdown - providing 24/7 care in dementia and mental health facilities - but charge the government a couple of thousand a week to use them for quarantine

RORT RORT RORT -- if we bail them out then lets take a substantial stake - the company can always have a buy back clause inserted to allow them to buy the government out - at cost +10%

what sort of people would take this money? Enough to pay for 200 part time tutors in low decile schools. They should publish the top ten salaries.